Week 6 - Entrepreneur Journal

Lessons Learned:

What is a business for?

This week’s readings and videos helped me to gain a better perspective on businesses and their purposes – or what should be their purposes.  It seems that today, so many businesses are simply concerned with the bottom line rather than what is best for the long-term success and growth of their company.  If you want to leave a true legacy, look beyond yourself, don’t worry about what investors or shareholders might think, and do what is best for the company as a whole.

We must always maintain integrity and be true to ourselves and others.  Honesty is vital for a company’s success.  While a company may feel like they can get away with some discrepancies or dishonesties, those things will always catch up with them in one way or another.  Virtue and integrity are vital for a company as well as for individuals.  Those qualities build trust.  If others do not trust you or your company, you or your company will suffer.  If we strive to  increase our virtue and integrity, people will trust us and our businesses will blossom.  Rationalization has plagued the society as business leaders fudge numbers and do what looks best at that moment.

I also learned more about the purpose of profits.  Profits should be used to do something more or better – not just to accumulate wealth and status.  We should make profits so they can become something greater!  Learning about this perspective has helped me to see the importance of using our resources to improve the world around us.

Week 5 - Entrepreneur Journal

Lessons Learned:

There were a couple of things that stood out to me this week.  First is the importance of maintaining an eternal perspective, especially concerning wealth.  God does not care how much money I earn or what I buy with that money.  Wealth is an opportunity to help and serve others.  I want to apply this principle of generosity in all aspects of my life – everything I have is a blessing from God and I should share my blessings with others.  This not only includes money, but also time, talents, and other resources.  I want to have a more giving heart and to reach out and serve those around me -  and wealth is not a requirement of doing so.

I also want to develop self-mastery in my life.  I was impressed by the examples given in Elder Tanner’s talk “Success is Gauged by Self-Mastery.”  I know that living a self-disciplined life with commitment to goals and improvement will lead to self-mastery.  I read the book “Mastery,” by George Leonard, and we can develop mastery in all facets of our lives - including daily chores and routines.  We must live each day to the fullest and use every opportunity we can to constantly improve ourselves.  If we become complacent or stop striving to improve, we end up taking steps backwards.

I am a firm believer of setting goals and developing self-discipline to achieve them.  We need to act now to achieve our goals and become the people we hope to be.  Elder Tanner said, “If you want to be successful or outstanding in any field of endeavor, it is important that you determine while young to be a great boy, and not wait to be a man to be a great man; and then have the courage and strength and determination to discipline yourself, apply self-control and self-mastery.”  As we make decisions and commit ourselves to our goals, we can achieve so much and become inspirational people who can influence the world for good.  There is one thing that one of my former bishops shared with my ward a few years ago.  It has always stuck with me and I still apply what he shared into my life on a regular bases.  It is something that I think can help us apply the principles of self-mastery and know how we can continually improve our lives.  He told us to:

1. Write down something you should start doing
2. Write down something you should keep doing
3. Write down something you should stop doing

And he said to do this on a regular basis and to evaluate how you are doing.  Ideally, I would love to do this exercise every week, but I think I do this every month.  It is so interesting to see how things build on each other.  Doing this helps me to identify little things that I should or shouldn’t be doing and motivates me to set goals to do so.  It helps me to waste less time on Facebook, to remember to pray and ready my scriptures, and helps me to use my time more wisely.

Week 4: Entrepreneur Journal

Lessons Learned:

I think the most significant thing that I learned was through the Mentor Session assignment – I can be an entrepreneur starting now!  I always thought that I needed to finish school first, but that assignment helped me to think of different possibilities that I can begin immediately.  The one that I am most excited about is starting a home day care business.  The more I think about it, the more excited I am.  I am home every day with my 1-year old, but I love working and wish I could have a job.  Starting a day care business is the perfect solution for me – I can work while taking care of my baby!  I looked into the state requirements for starting a day care business, and I can start small at first without having any licensure requirements.  If I like how things are going, I can get my business and day care licenses, get CPR certified, and care for more children.  I discussed my ideas with my sister and asked if she would be interested in working together if we wanted to care for up to 16 kids, and she loved the idea as well!  I think that day care is something that is always in demand and I’ve thought about ways to set my day care apart from others.  First of all, my house is childproof and fun – it’s filled with toys, musical instruments, and we have a huge, fenced back yard.  I would create a schedule with times for snacks, reading time, music time, dance time, nap time, etc.  I would charge $5/hour for each child, which is a great deal for parents.  It would also work great for me!  If I started caring for 4 children, that would be a combined $20/hour!  I have also considered the possibility of offering a sibling discount - $5/hr for the first child and $3/hr or any additional siblings.  That would make the day care more affordable for parents while still providing an adequate income for me.  It really seems like the perfect solution for my business and home desires!

Week 3: Entrepreneur Journal

“To Manage the Minute is the Secret of Success” – Elder Joseph B. Wirthlin

I loved this message by Elder Wirthlin .  It was simple, direct, and very applicable.  His message was one of truth and it motivated me to use my minutes more effectively.  He emphasized the importance of the little things in life – and minutes are little.  But they add up!  He brought an important point up – we have a fixed rate of minutes each day.  We can’t add more minutes and we can take away any minutes.  How we act and use our minutes requires us to manage ourselves wisely with a positive outlook.

What really stood out to me was how important the little things are with our relationships with others.  He said, “Do you take the time to remember some of the simple courtesies that are so important in relationships with others? Do you remember the smile, the compliment, the positive comment, and the word of encouragement? We should do these important little things without hesitation.”  This made me think about the kindness that others have shown me.  I am touched by a simple smile.  I savor a sincere compliment.  I remember words of encouragement forever.  These are all great feelings and I can share these feelings with those around me by looking for ways to do the same. 

As I pray and turn to the Lord for strength, I’ll be able to develop spiritual qualities.  “We will love more and criticize less.”  I want to do the little things to improve my relationships with family, friends, and even strangers.  I’m going to make an effort to smile and be friendly toward others.  I will look for things I can complement others about.  I will share encouraging words to lift others up.  

Week 2 - Entrepreneur Journal

Lessons Learned

I learned how useful and important it is to review journals!  This week I looked back on my past two entrepreneurial journals and I feel like I relearned what I previously studied.  I think that reviewing my thoughts and what I am learning will reinforce the information I am obtaining.  It will help me to remember what I want to learn and help me to see if I am using that information.  For example, last week I wrote some thoughts about Randy Pausch’s lecture and I was reminded to see the best in other people.  By simply scanning what I wrote last week helped me to remember that important principle and encourages me to use it in my daily life.  We need reminders to know where we are going, what we want to do, and why we are doing things.

I also learned the importance of putting God first in all aspects of our lives.  Elder Lynn G. Robbins’ talk “Making a Living and a Life” discussed the importance of being motivated by the love of God – rather than being motivated primarily by money.  Money isn’t a bad motivation – it simply shouldn’t be the primary one.  As we put God first and act out of our love for Him, He will bless us and help us to prosper.  Elder Robbins encouraged me to always be an A-level person.  I believe that his teachings are applicable at home, as well as in the professional world.  I can be an A-level wife and mother as I strive to live a Christ-centered life.  I shouldn’t act out of selfish motivations.  If I act with the love of God as my primary motivation, I can enjoy peace, harmony, and the Spirit in my life and home.